Why Trump Won't Push Oil Prices to $50
I’m not really convinced that Trump cares about oil prices being at $50 a barrel. The U.S. is the biggest oil producer out there, and at that price, a lot of oil fields are going to struggle to stay profitable because of inflation and rising costs. Plus, American oil companies can’t just devalue their currency to cushion the blow from falling prices, so I doubt Trump would intentionally drive prices down, especially since those companies backed his campaign.
And let’s be real—low oil prices aren’t exactly great for Elon Musk, who was a key player in getting Trump elected. When do you think consumers are more likely to look at electric cars? When gas prices are high or low? The answer seems pretty obvious.
The only thing that might push oil prices down to $50 is a looming recession in the U.S., but that’s a whole different ballgame and not really about Trump.
Besides everything else, today there was noticeable activity from 'robots' in the oil market. The last time I saw this was in 2021 with oil... during Trump's last term. Coincidence?
And let’s be real—low oil prices aren’t exactly great for Elon Musk, who was a key player in getting Trump elected. When do you think consumers are more likely to look at electric cars? When gas prices are high or low? The answer seems pretty obvious.
The only thing that might push oil prices down to $50 is a looming recession in the U.S., but that’s a whole different ballgame and not really about Trump.
Besides everything else, today there was noticeable activity from 'robots' in the oil market. The last time I saw this was in 2021 with oil... during Trump's last term. Coincidence?
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